Reverence And Justice
"Leave the past behind, let the grand design take care of the future, and instead only rightly guide the present to reverence and justice. Reverence so that you'll love what you've been allotted, for nature brought you both to each other. Justice so that you'll speak the truth freely and without evasion, and so that you'll act only as the law and value of things require."
—MARCUS AURELIUS, MEDITATIONS, 12.1
A very interesting meditation today and I can certainly relate to what Epictetus once said and I quote; "If anyone would take two words to heart and take pains to govern and watch over themselves by them, they will live an impeccable and immensely tranquil life. The two words are: persist and resist"
This also translates to trading perfectly in my opinion. Let me tell you why.
1) Persist - We must be persistent to turn up every day that we can, to practice perfecting our strategies, whilst executing our trades and managing them to completion. We must persist through the tough periods, because we know that if we stick to the rules/criteria for our strategies, we will be consistently profitable over the long term. Persistence rewards us for the hard work that we put in every day.
2) Resist - We must resist the temptation of entering trades that don't fully meet the rules/criteria for our strategies. We also resist jumping on other peoples trades, without doing our own due diligence first and we must also avoid trading on impulse or revenge trading if things have gone badly for us. We must stay in control of our trading and be prepared to walk away if we are not in the correct mindset to trade. Taking a break can be a bank protector for sure!
If you can persist with your trading plan as per the rules/criteria for your strategies and resist everything else, you will become consistent and confident of making the right choices on your trading journey.